Having health insurance is an important in order to protect your family and your bank account in case something catastrophic happens. If you get sick and are uninsured, there’s a chance that the amount of medical care and access to doctors and specialists that you may need will be limited or available because you’re completely uninsured. Although it may seem like a number of the Obamacare plans available to you in your region come with high annual deductibles, keep in mind that paying out of pocket for a medical bill like an emergency room visit, may be more expensive than the deductibles you’re seeing.
If the monthly premiums of Obamacare plans are the bigger issue, you should consider a short term medical plan instead. Short term medical plans offer coverage for hospital and doctor visits and other medical bills just like Obamacare plans. They also have copay and coinsurance requirements and annual deductibles like Obamacare plans. The only differences today between the two types of plans is that short term plans have much more affordable monthly premiums (sometimes half or more of the cost of an Obamacare plan), they are also only available for shorter periods of time (typically three month intervals), and they are not good options for people who are pregnant or have pre-existing conditions.
Open enrollment for Obamacare plans for the 2018 calendar year starts on November 1st and ends on December 15th, which is 45 days less than previous years. With the shortened time period to review your options and shop for a new Obamacare plan, it’s important that you review your financial and medical situation and determine which type of plan best suits you and your family. Even if someone in your family has more medical needs than others and may benefit more from the fuller coverage of an Obamacare plan, a more affordable short term medical plan may be a good option for the rest of your family, which will bring down the overall costs of medical care and protection for your family.
Whatever your situation, make sure you’re covered.
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